USD/JPY Live News

This page provides live coverage and news analysis on the USD/JPY currency pair

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Feb. 21, 2024

Bullish currency pair Dollar/Yen runs out of steam at 150.34; currently at 150.3

Live - Updated 52 minutes ago.

After closing the previous trading day at 149.93, Dollar/Yen is up to 150.3, which makes for a move of 0.25%/37 pips today.

At the same time, Japan Adjusted Trade Balance released yesterday at 23:50 UTC with a figure of 240 billion, while the previous figure was -410 billion. Data for Japan Exports published yesterday at 23:50 UTC came out at 11.9%, beating projections of 9.5% and showing improvement over the preceding figure of 9.7%. Japan Trade Balance (Jan) came out at -1.76 trillion, while a consensus of analysts was expecting -1.93 trillion.

Bollinger Band® analysis indicates that current price action is approaching the upper band at 151.41, thereby suggesting that USD/JPY is becoming overvalued.

Overall, looking at the technical analysis landscape, it seems Dollar/Yen is likely to reverse course and start pointing down in the short term.

Other currencies are also rising as EUR/JPY is up 0.29%. GBP/JPY is up 0.21% to 189.62.

While Dollar/Yen is up today, these currencies are lagging behind: GBP/NZD is down to 2.045, losing 42 pips, after closing at 2.0493 in the preceding trading session.

Positive indicators for Dollar/Yen are expected going forward as tomorrow at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 217,000 from the preceding figure of 212,000.

Furthermore, the market is looking at Japan Services PMI is expected tomorrow at 00:30 UTC. United States Existing Home Sales (Jan) is expected tomorrow at 15:00 UTC.

The currency pair has been trending positively for about a month. Dollar/Yen has managed to gain 4.43% so far this year despite trading at lows around 131.2 previously.

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Week to date

Stalemate for Dollar/Yen bulls and bears .

Trading week at a glance - USD/JPY is up to 150.3, after closing yesterday at zero. Overall, a 0% move or 15,029 pips this week. (Start trading Dollar/Yen at FXTM today).

Nevertheless, highly important GDP data from Japan beat analyst expectations of 0.2 with a reading of -0.1.

Meanwhile, Japan Adjusted Trade Balance released yesterday at 23:50 UTC with a figure of 240 billion, while the previous figure was -410 billion. Japan Exports beat analyst expectations of 9.5% and the previous reading of 9.7% with new data of 11.9%. Japan Trade Balance (Jan) came out at -1.76 trillion, while a consensus of analysts was expecting -1.93 trillion. Japan CFTC JPY speculative net positions released Friday with a figure of -111,500, while the previous figure was -84,200.

Also worthy of note, Japan Services PMI is expected tomorrow at 00:30 UTC. Japan National Core CPI (YoY) (Jan) is scheduled for Monday. United States Existing Home Sales (Jan) will be released tomorrow at 15:00 UTC.